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Plato reports on high-resolution aerial magnetic and radiometric geophysical research on the Good Hope Niobium Project in the Canadian Business Journal

Toronto, Ontario, April 4, 2022 (GLOBE NEWSWIRE) — Plato Gold Corp. (TSX-V: PGC) (OTCQB: NIOVF)(Frankfurt: 4Y7 Or WKN: A0M2QX) (“Plato” or “society”) Is pleased to announce the results of a recently completed high-resolution aerial magnetism and radiometric geophysical survey on the Good Hope Niobium Project... Geophysical survey data confirm that the occurrence of good hope niobium represents a discrete invasion that differs from the prairie lake carbonatite complex located in the southeast. Geophysical data and 2018 diamond drilling show that the potential size of niobium-rich zones is at least 500 square meters with a confirmed depth of 500 m. The geophysical survey was conducted in October 2021 by Prospectair Geosurveys Inc. in Gatineau, Quebec.

The property is located 60 km northwest of the Ontario Marathon. The results of both the survey and the recently expanded sampling program completed at the 2018 Diamond Drill Core will be used to direct exploration work during the 2022 field season. The sampling program included 2,314 1-meter samples submitted for analysis to Activation Laboratories Ltd. (ActLabs) in Thunder Bay (Plato Gold News Release, September 21, 2021).

Below are additional highlights of the results of the recently completed geophysical survey and sampling program and the general infrastructure associated with the Good Hope project.

  • Results from the 2018 and 2021 drill core sampling programs identified a large number of niobium-rich sections, including 0.307%. Nb2OFive32.00 m and above and 0.405% Nb2OFive10.67 m or more (Table 1).
  • 2021 spectroscopic data Prospect Air Plato’s completed survey and 2018 drill-core geochemical analysis show highly anomalous potassium (Map 1), low-to-absence thorium and uranium mineralization, and high gamma-ray signatures endemic to the Good Hope region. (Map 2) shows Niobium-rich zones
  • The residual total magnetic intensity map (Map 3) of the region of the Good Hope niobium rich zone shows consistent and pronounced low intensity features.
  • Good Infrastructure: Road-accessible and recently constructed properties 30km north of Trans Canada Highway 17 Next Bridge East-West 230KV transmission line

Dr. Roger Mitchell, an emeritus professor at Lakehead University and an advisor to Plato Gold Inc., said: Mineralogy favorable for pyrochlore mineral processing existing infrastructure”. Niobium is on the “Technically Important Elements” list in the United States, EU and Canada. Currently, there are only three niobium mines operating in the world, two in Brazil and one in Canada. Niobium’s most important applications are in the manufacture of superconducting alloys for jet and rocket engines, as well as superconducting magnets for MRI scanners and hydrogen fusion projects, as well as common applications in the electronics and steel industries. Niobium is also used As a component of electric vehicle batteries for stability, increased capacity, faster charging, and protective coatings.

In 2017, Plato signed a contract with the Ontario Marathon prospector Rudy Wahl. This allowed the company to acquire a 100% stake in Good Hope Property in 2019 following a 5,000m diamond drilling program. Prior to the agreement, work performed by Dr. Wahl, including pitching, trenching, and sampling of well-defined radiation analysis anomalies, resulted in the discovery of grab samples of up to 1.63% Nb.2O5.5.

The 2018 Diamond Drilling Program, completed by Plato Gold at the Good Hope Niobium Project, consisted of nine drill holes totaling 5016m at 100m intervals. All drill holes intersected a huge carbonatite zone within the breccia system consisting of various phenitized syenite xenoliths infiltrated with carbonatite and transversal carbonatite dikes. The excavation included an area of ​​approximately 500m x 500m, and all holes were excavated northwest, from a vertical depth of 285m to 580m. The crossing of large amounts of pyrochlore-containing carbonatite in all drill holes from the surface to a depth of approximately 500 m suggests great potential for large amounts of niobium mineralization.

Good Hope Property has been used for diamond excavation work so far. Discrete carbonatite complex. Carbonatite is the host of niobium mineralization that occurs primarily when pyrochlore-apatite is crushed within carbonatite breccia. Carbonatite differs from the nearby Prairie Lake Complex in mineralogy.

Plato Gold Corp Good Hope Project 2018 Drill Hole

(Sampling 2018, 2021)

from
(M)
To
(M)
interval
(M)
School year
(% Nb2OFive).
PGH-18-01 273.92 278.30 4.38 0.366
317.00 321.22 4.22 0.215
324.00 342.16 18.16 0.232
include 324.00 331.80 7.81 0.320
PGH-18-02 39.25 50.50 11.25 0.218
include 39.25 44.00 4.74 0.334
225.00 227.00 2.00 0.455
PGH-18-03B 188.73 196.00 7.27 0.247
218.86 223.30 4.44 0.381
254.00 257.63 3.63 0.165
411.00 418.50 7.50 0.229
PGH-18-04 498.84 507.59 8.75 0.291
527.22 551.25 24.03 0.279
include 537.75 549.75 12.00 0.395
PGH-18-05B 64.00 72.00 8.00 0.236
PGH-18-06 371.34 402.67 31.33 0.262
include 392.00 402.67 10.67 0.405
PGH-18-07 573.14 586.42 13.28 0.300
645.00 648.57 3.57 0.444
PGH-18-08 8.70 11.00 2.30 0.445
376.00 380.24 4.24 0.201
PGH-18-09 446.17 459.65 13.48 0.179
488.00 492.96 4.96 0.180
PGH-18-10A 265.95 269.55 3.60 0.348
321.77 326.45 4.68 0.237
364.24 396.24 32.00 0.307
include 364.24 377.30 13.06 0.391

https://www.platogold.com/wp-content/uploads/2022/04/PGC-Good-Hope-High-Resolution-Survey-April-4-2022-FINAL.pdf

https://www.platogold.com/wp-content/uploads/2022/04/PGC-Good-Hope-High-Resolution-Survey-April-4-2022-FINAL.pdf

https://www.platogold.com/wp-content/uploads/2022/04/PGC-Good-Hope-High-Resolution-Survey-April-4-2022-FINAL.pdf

The anomalies generated by the company’s aerial geophysical survey and analysis from the sampling program described above will be used to target intensive Phase 2 diamond drilling programs in the major discovery areas of the Good Hope property.

The technical and scientific disclosures of this news release have been reviewed and approved by Gerald D. White, B.Sc. P.Geo.. , “Qualified Person” (QP) based on National Instrument 43-101.

About Plato Gold Corp.

Plato Gold Corp. is a Canadian exploration company trading on the TSX Venture Exchange, OTC Market and the Frankfurt Stock Exchange, with projects in Timmins, Ontario, Marathon, Ontario and Santa Cruz, Argentina.

The Timmins, Ontario project includes four properties at the Harker / Hollowway Gold Camp, east of Timmins, Ontario, Gibold, Harker, Hollowway, and Marriott.

In Argentina, Plato owns a 95% stake in Winnipeg Minerals SA (“WMSA”). This is an Argentine legal entity with a large number of consecutive mining rights totaling 9,672 hectares of potential gold and silver.

The Good Hope Niobium Project consists of approximately 5,146 hectares in the Kirara Lake Area and Cairn Goem Lake Area Township near the Ontario Marathon, with a primary target of niobium.

The Pic River Platinum Group Metals (PGM) project consists of 2,247 hectares on Foxtrap Lake and Grain Township near the Ontario Marathon, 19 of which are adjacent to the western border of the Generation Mining Marathon PGM project and are in the Generation Mining Sally. deposit.

For more information about the company, please visit www.platogold.com...

For more information, please contact:

Anthony Cohen
President and Chief Executive Officer
Plato Gold Co., Ltd.
T: 416-968-0608
F: 416-968-3339
info@platogold.com
www.platogold.com

Neither the TSX Venture Exchange nor its regulatory provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity of this release.

Description of future prospects

This news release contains “forward-looking statements” within the meaning of applicable securities law. These statements include the completion of offerings, statements on potential mineralization and resources, exploration results, and the concentration of paid minerals that may offset operating costs with future plans and objectives. , Not limited to these. Forward-looking statements include “believe,” “expect,” “expect,” “estimate,” “may,” “can,” “do,” “do,” and “plan.” Can be identified by term. Forward-looking statements are based on assumptions and are intended to address future events and circumstances. Their essence entails inherent risks and uncertainties. While these statements are based on information currently available to us, we do not guarantee that actual results will meet management expectations. These forward-looking statements are subject to various risks, uncertainties, and other factors that may cause actual events and outcomes to differ materially from those predicted in the forward-looking information. Risks that these statements may impede changes or realization include, but are not limited to: Increased cost of capital. Timing and content of future work programs. A geological interpretation based on excavation that may change with more detailed information. Due to potential process methods based on limited testing work and mineral recovery assumptions, and comparisons with what is considered similar deposits, further testing work may not be able to compare. Testing of our process may not be successful, and even if testing is successful, economic and other results may not be as expected. Labor force, equipment and market availability of produced products. Conditions that change so that the minerals of our property cannot be mined economically or the necessary permits cannot be obtained. We also cannot predict or negate the impact of COVID-19 on our business, including but not limited to the impact of COVID-19 on commodity prices, capital market conditions, labor and international travel and supply chain restrictions. .. Plato’s management has sought to identify key factors that could cause actual results to differ materially from those contained in the forward-looking statements, but the results are not expected, estimated, or intended. There may be other factors that cause it. Actual results and future events may differ materially from those expected in such statements, and there is no guarantee that such statements will be accurate. Therefore, readers should not place undue reliance on forward-looking statements. The forward-looking information contained in this document is current as of the date of this document and we are responsible for updating or revising such information to reflect new events or circumstances, except as required by law. We do not owe.


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Plato reports on high-resolution aerial magnetic and radiometric geophysical research on the Good Hope Niobium Project in the Canadian Business Journal

Source link Plato reports on high-resolution aerial magnetic and radiometric geophysical research on the Good Hope Niobium Project in the Canadian Business Journal

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